MUTUAL SECURITY CREDIT UNION INC: Form 990, tax year 2011

View the entire original 990 at ProPublica ↗

Organization: MUTUAL SECURITY CREDIT UNION INC (EIN 06-0701899)
Tax period: 2011-01-01 to 2011-12-31
Filed: 2012-11-13
IRS object ID: 201213189349301011
Schema version: 2011v1.2
Source: Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header
Form 990
Schedule D
Schedule I
Schedule J
Schedule O
Schedule R

Return header ReturnHeader

Field	Value	IRS element (for citing)
Timestamp	2012-11-13T10:31:41-06:00	Timestamp
Tax Period End Date	2011-12-31	TaxPeriodEndDate

Preparer Firm PreparerFirm

Field	Value	IRS element (for citing)
EIN	420714325	EIN

Preparer Firm Business Name PreparerFirmBusinessName

Field	Value	IRS element (for citing)
Business Name Line1	MCGLADREY LLP	BusinessNameLine1

Preparer Firm US Address PreparerFirmUSAddress

Field	Value	IRS element (for citing)
Address Line1	801 NICOLLET MALL SUITE 1100	AddressLine1
City	MINNEAPOLIS	City
State	MN	State
ZIP Code	55402	ZIPCode

Field	Value	IRS element (for citing)
Return Type	990	ReturnType
Tax Period Begin Date	2011-01-01	TaxPeriodBeginDate

Filer Filer

Field	Value	IRS element (for citing)
EIN	060701899	EIN

Name Name

Field	Value	IRS element (for citing)
Business Name Line1	MUTUAL SECURITY CREDIT UNION	BusinessNameLine1

Field	Value	IRS element (for citing)
Name Control	MUTU	NameControl
Phone	2034027400	Phone

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	12 PROGRESS DRIVE	AddressLine1
City	SHELTON	City
State	CT	State
ZIP Code	06484	ZIPCode

Officer Officer

Field	Value	IRS element (for citing)
Name	KAREN LEVASSEUR	Name
Title	CFO	Title
Phone	2034027400	Phone
Date Signed	2012-11-12	DateSigned
Authorize Third Party	1	AuthorizeThirdParty

Preparer Preparer

Field	Value	IRS element (for citing)
Name	GERALD B KISSELL	Name
PTIN	P00092658	PTIN
Phone	6123324300	Phone

Field	Value	IRS element (for citing)
Tax Year	2011	TaxYear
Build TS	2016-02-24 21:20:13Z	BuildTS

Form 990 IRS990

Field	Value	IRS element (for citing)
Name Of Principal Officer Person	LARRY F HOLDERMAN	NameOfPrincipalOfficerPerson

Address Principal Officer US AddressPrincipalOfficerUS

Field	Value	IRS element (for citing)
Address Line1	12 PROGRESS DRIVE	AddressLine1
City	SHELTON	City
State	CT	State
ZIP Code	06484	ZIPCode

Field	Value	IRS element (for citing)
Gross Receipts	12983003	GrossReceipts
Group Return For Affiliates	0	GroupReturnForAffiliates
Organization501c	X	Organization501c
Web Site	N/A	WebSite
Type Of Organization Corporation	X	TypeOfOrganizationCorporation
Year Formation	2001	YearFormation
State Legal Domicile	CT	StateLegalDomicile
Activity Or Mission Description	THE MISSION OF MSCU IS TO PROMOTE THE ECONOMIC WELL BEING OF ITS MEMBERS BY PROVIDING A BROAD RANGE OF INNOVATIVE FINANCIAL PRODUCTS. THESE PROGRAMS WILL BE ADMINISTERED IN A PERSONALIZED ENVIRONMENT BY A PROFESSIONAL STAFF AND DEDICATED VOLUNTEERS.	ActivityOrMissionDescription
Nbr Voting Members Governing Body	6	NbrVotingMembersGoverningBody
Nbr Independent Voting Members	6	NbrIndependentVotingMembers
Total Nbr Employees	73	TotalNbrEmployees
Total Nbr Volunteers	13	TotalNbrVolunteers
Total Gross UBI	204297	TotalGrossUBI
Net Unrelated Business Txbl Income	-54372	NetUnrelatedBusinessTxblIncome
Contributions Grants Prior Year	0	ContributionsGrantsPriorYear
Contributions Grants Current Year	0	ContributionsGrantsCurrentYear
Program Service Revenue Prior Year	13293528	ProgramServiceRevenuePriorYear
Program Service Revenue CY	12523658	ProgramServiceRevenueCY
Investment Income Prior Year	492260	InvestmentIncomePriorYear
Investment Income Current Year	173533	InvestmentIncomeCurrentYear
Other Revenue Prior Year	117641	OtherRevenuePriorYear
Other Revenue Current Year	197049	OtherRevenueCurrentYear
Total Revenue Prior Year	13903429	TotalRevenuePriorYear
Total Revenue Current Year	12894240	TotalRevenueCurrentYear
Grants And Similar Amnts Prior Year	7000	GrantsAndSimilarAmntsPriorYear
Grants And Similar Amnts CY	6000	GrantsAndSimilarAmntsCY
Benefits Paid To Members Prior Year	2939424	BenefitsPaidToMembersPriorYear
Benefits Paid To Members CY	1978473	BenefitsPaidToMembersCY
Salaries Etc Prior Year	4535118	SalariesEtcPriorYear
Salaries Etc Current Year	4521095	SalariesEtcCurrentYear
Total Prof Fundrsng Exp Prior Year	0	TotalProfFundrsngExpPriorYear
Total Prof Fundrsng Exp CY	0	TotalProfFundrsngExpCY
Total Fundrsng Exp Current Year	0	TotalFundrsngExpCurrentYear
Other Expense Prior Year	6288502	OtherExpensePriorYear
Other Expenses Current Year	5742984	OtherExpensesCurrentYear
Total Expenses Prior Year	13770044	TotalExpensesPriorYear
Total Expenses Current Year	12248552	TotalExpensesCurrentYear
Revenues Less Expenses Prior Year	133385	RevenuesLessExpensesPriorYear
Revenues Less Expenses CY	645688	RevenuesLessExpensesCY
Total Assets BOY	238775951	TotalAssetsBOY
Total Assets EOY	234687836	TotalAssetsEOY
Total Liabilities BOY	221453641	TotalLiabilitiesBOY
Total Liabilities EOY	216719838	TotalLiabilitiesEOY
Net Assets Or Fund Balances BOY	17322310	NetAssetsOrFundBalancesBOY
Net Assets Or Fund Balances EOY	17967998	NetAssetsOrFundBalancesEOY
Info In Schedule O Part III	X	InfoInScheduleOPartIII
Mission Description	THE MISSION OF MSCU IS TO PROMOTE THE ECONOMIC WELL BEING OF ITS MEMBERS BY PROVIDING A BROAD RANGE OF INNOVATIVE FINANCIAL PRODUCTS. THESE PROGRAMS WILL BE ADMINISTERED IN A PERSONALIZED ENVIRONMENT BY A PROFESSIONAL STAFF AND DEDICATED VOLUNTEERS.	MissionDescription
Significant New Program Services	0	SignificantNewProgramServices
Significant Change	0	SignificantChange
Description	MUTUAL SECURITY CREDIT UNION IS A COMMUNITY CREDIT UNION WITH A MEMBERSHIP BASE OF THOSE LIVING, WORKING, WORSHIPPING OR ATTENDING SCHOOL IN FAIRFIELD, LITCHFIELD OR NEW HAVEN COUNTIES. MEMBERSHIP ELIGIBILITY ALSO INCLUDES THOSE EMPLOYED OR THE RETIRED PENSIONERS/ANNUITANTS OF OUR 77 SELECT EMPLOYEE GROUPS. FAMILY MEMBERS OF OUR CURRENT CU MEMBERS ARE ALSO ELIGIBLE FOR MEMBERSHIP. AS OF 12/31/11 WE ARE SERVING 34,405 MEMBERS.	Description

Activity2 Activity2

Field	Value	IRS element (for citing)
Description	MSCU OFFERS MEMBERS VARIOUS CONSUMER LOAN PRODUCTS - PERSONAL LOANS, AUTO LOANS, MORTGAGES (1ST, 2ND AND HOME EQUITY LOC) AS WELL AS VISA CREDIT CARD.	Description

Activity3 Activity3

Field	Value	IRS element (for citing)
Description	MSCU OFFERS MEMBERS OUR VISA CHECK CARD OR OUR ATM CARD.	Description

Activity Other ActivityOther

Field	Value	IRS element (for citing)
Description	MSCU OFFERS MEMBERS A FREE ONLINE BANKING SERVICE INCLUDING FREE ONLINE BILL PAYMENT PROCESSING.	Description

Field	Value	IRS element (for citing)
Described In501 C3	0	DescribedIn501C3
Schedule B Required	0	ScheduleBRequired
Political Activities	0	PoliticalActivities
Subject To Proxy Tax	0	SubjectToProxyTax
Donor Advised Funds	0	DonorAdvisedFunds
Conservation Easements	0	ConservationEasements
Collections Of Art	0	CollectionsOfArt
Credit Counseling	1	CreditCounseling
Term Or Permanent Endowments	0	TermOrPermanentEndowments
Report Land Bldg Equip	1	ReportLandBldgEquip
Report Invest Oth Securities	0	ReportInvestOthSecurities
Report Prog Rel Invest	0	ReportProgRelInvest
Report Other Assets	0	ReportOtherAssets
Report Other Liabilities	1	ReportOtherLiabilities
Report Fin48 Footnote	0	ReportFin48Footnote
Independent Audit Financial Stmt	0	IndependentAuditFinancialStmt
Consolidated Audit Financial Stmt	0	ConsolidatedAuditFinancialStmt
School	0	School
Foreign Office	0	ForeignOffice
Foreign Activities	0	ForeignActivities
More Than5000 K To Organizations	0	MoreThan5000KToOrganizations
More Than5000 K To Individuals	0	MoreThan5000KToIndividuals
Professional Fundraising	0	ProfessionalFundraising
Fundraising Activities	0	FundraisingActivities
Gaming	0	Gaming
Hospital	0	Hospital
Grants To Organizations	0	GrantsToOrganizations
Grants To Individuals	1	GrantsToIndividuals
Schedule J Required	1	ScheduleJRequired
Tax Exempt Bonds	0	TaxExemptBonds
Loan To Officer Or DQP	0	LoanToOfficerOrDQP
Grant To Related Person	0	GrantToRelatedPerson
Bsnss Rltnshp With Organization	0	BsnssRltnshpWithOrganization
Bsnss Rltnshp Thru Family Member	0	BsnssRltnshpThruFamilyMember
Officer Entity With Bsnss Rltnshp	0	OfficerEntityWithBsnssRltnshp
Deductible Non Cash Contributions	0	DeductibleNonCashContributions
Deductible Contributions Of Art	0	DeductibleContributionsOfArt
Terminated	0	Terminated
Partial Liquidation	0	PartialLiquidation
Disregarded Entity	0	DisregardedEntity
Related Entity	1	RelatedEntity
Related Org Controlled Entity	1	RelatedOrgControlledEntity
Transaction Related Entity	0	TransactionRelatedEntity
Activities Conducted Partnership	0	ActivitiesConductedPartnership
Schedule O Required	1	ScheduleORequired
Number Forms Transmitted With1096	10000	NumberFormsTransmittedWith1096
Number W2 G Included	0	NumberW2GIncluded
Number Of Employees	73	NumberOfEmployees
Employment Tax Returns Filed	1	EmploymentTaxReturnsFiled
Unrelated Business Income	1	UnrelatedBusinessIncome
Form990-T Filed	1	Form990-TFiled
Foreign Financial Account	0	ForeignFinancialAccount
Prohibited Tax Shelter Trans	0	ProhibitedTaxShelterTrans
Taxable Party Notification	0	TaxablePartyNotification
Non Deductible Contributions	0	NonDeductibleContributions
Indoor Tanning Services	0	IndoorTanningServices
Info In Schedule O Part VI	X	InfoInScheduleOPartVI
Nbr Voting Governing Body Members	6	NbrVotingGoverningBodyMembers
Number Independent Voting Members	6	NumberIndependentVotingMembers
Family Or Business Relationship	0	FamilyOrBusinessRelationship
Delegation Of Management Duties	0	DelegationOfManagementDuties
Changes To Organizing Docs	0	ChangesToOrganizingDocs
Material Diversion Or Misuse	0	MaterialDiversionOrMisuse
Members Or Stockholders	1	MembersOrStockholders
Election Of Board Members	1	ElectionOfBoardMembers
Decisions Subject To Approval	1	DecisionsSubjectToApproval
Minutes Of Governing Body	1	MinutesOfGoverningBody
Minutes Of Committees	1	MinutesOfCommittees
Officer Mailing Address	0	OfficerMailingAddress
Local Chapters	1	LocalChapters
Policies Reference Chapters	1	PoliciesReferenceChapters
Form990 Provided To Governing Body	1	Form990ProvidedToGoverningBody
Conflict Of Interest Policy	1	ConflictOfInterestPolicy
Annual Disclosure Covered Persons	1	AnnualDisclosureCoveredPersons
Regular Monitoring Enforcement	1	RegularMonitoringEnforcement
Whistleblower Policy	1	WhistleblowerPolicy
Document Retention Policy	1	DocumentRetentionPolicy
Compensation Process CEO	1	CompensationProcessCEO
Compensation Process Other	1	CompensationProcessOther
Investment In Joint Venture	0	InvestmentInJointVenture
Upon Request	X	UponRequest

The Books Are In Care Of TheBooksAreInCareOf

Name Business NameBusiness

Field	Value	IRS element (for citing)
Business Name Line1	KAREN LEVASSEUR	BusinessNameLine1

Field	Value	IRS element (for citing)
Telephone Number	2034027400	TelephoneNumber

Address US AddressUS

Field	Value	IRS element (for citing)
Address Line1	12 PROGRESS DRIVE	AddressLine1
City	SHELTON	City
State	CT	State
ZIP Code	06484	ZIPCode

Form990 Part VII Section A Form990PartVIISectionA (8 entries)

TitleTitle	Average Hours Per WeekAverageHoursPerWeek	Individual Trustee Or DirectorIndividualTrusteeOrDirector	OfficerOfficer	Reportable Comp From OrganizationReportableCompFromOrganization	Reportable Comp From Related OrgsReportableCompFromRelatedOrgs	Other CompensationOtherCompensation
BRUCE M LIKELY
CHAIRPERSON	5.00	X	X	0	0	0
ROBERT MARAGES
VICE-CHAIRPERSON	5.00	X	X	0	0	0
LINDA SMITAS
SECRETARY	5.00	X	X	0	0	0
BRIGITTA P SMITH
TREASURER	5.00	X	X	0	0	0
ROBERT J BASTA
BOARD MEMBER	5.00	X		0	0	0
ARNOLD HAYDU
BOARD MEMBER	5.00	X		0	0	0
LARRY F HOLDERMAN
PRESIDENT, CEO	50.00		X	173124	0	44792
KAREN LEVASSEUR
CFO	50.00		X	102266	0	27329

Field	Value	IRS element (for citing)
Total Reportable Comp From Org	275390	TotalReportableCompFromOrg
Total Reportable Comp Frm Rltd Orgs	0	TotalReportableCompFrmRltdOrgs
Total Other Compensation	72121	TotalOtherCompensation
Number Individuals GT100 K	2	NumberIndividualsGT100K
Formers Listed	0	FormersListed
Total Comp GT150 K	1	TotalCompGT150K
Compensation From Other Sources	0	CompensationFromOtherSources

Contractor Compensation ContractorCompensation (4 entries)

Address Line1AddressOfContractor/AddressUS/AddressLine1	CityAddressOfContractor/AddressUS/City	StateAddressOfContractor/AddressUS/State	ZIP CodeAddressOfContractor/AddressUS/ZIPCode	Description Of ServicesDescriptionOfServices	CompensationCompensation
ANTHEM BLUE CROSS BLUE SHIELD
PO BOX 778	NORTH HAVEN	CT	06473	MEDICAL INSURANCE FOR STAFF	618453
AAA
110 ROYAL LITTLE DRIVE	PROVIDENCE	RI	02902	LENDING COMMISSION & GAP INSURANCE	196384
FISERV
75 REMITTANCE DR	CHICAGO	IL	60675	COMPUTER SOFTWARE/HARDWARE MAINTENANCE	178540
ADP
1 ADP PLAZA	MILFORD	CT	06461	PAYROLL SERVICES & HR	129534

Field	Value	IRS element (for citing)
Number Of Contractors GT100 K	4	NumberOfContractorsGT100K

Program Service Revenue ProgramServiceRevenue (4 entries)

DescriptionDescription	Business CodeBusinessCode	Total Revenue ColumnTotalRevenueColumn	Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome	Unrelated Business RevenueUnrelatedBusinessRevenue
INTEREST INCOME	522100	9772524	9772524
FEES AND CHARGES	522100	1666434	1462137	204297
VISA FEE INCOME	522100	923484	923484
MORTGAGE FEE INCOME	522100	161216	161216

Field	Value	IRS element (for citing)
Total Program Service Revenue	12523658	TotalProgramServiceRevenue

Investment Income InvestmentIncome

Field	Value	IRS element (for citing)
Total Revenue Column	262296	TotalRevenueColumn
Exclusion	$262,296	ExclusionAmount

Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses

Field	Value	IRS element (for citing)
Other	88763	Other

Gain Or Loss GainOrLoss

Field	Value	IRS element (for citing)
Other	-88763	Other

Net Gain Or Loss Investments NetGainOrLossInvestments

Field	Value	IRS element (for citing)
Total Revenue Column	-88763	TotalRevenueColumn
Exclusion	-$88,763	ExclusionAmount

Other Revenue Misc OtherRevenueMisc

Field	Value	IRS element (for citing)
Description	MISC. OPERATING INCOME	Description
Business Code	522100	BusinessCode
Total Revenue Column	197049	TotalRevenueColumn
Related Or Exempt Function Income	197049	RelatedOrExemptFunctionIncome

Field	Value	IRS element (for citing)
Total Other Revenue	197049	TotalOtherRevenue

Total Revenue TotalRevenue

Field	Value	IRS element (for citing)
Total Revenue Column	12894240	TotalRevenueColumn
Related Or Exempt Function Income	12516410	RelatedOrExemptFunctionIncome
Unrelated Business Revenue	204297	UnrelatedBusinessRevenue
Exclusion	$173,533	ExclusionAmount

Grants To Domestic Individuals GrantsToDomesticIndividuals

Field	Value	IRS element (for citing)
Total	6000	Total

Benefits To Members BenefitsToMembers

Field	Value	IRS element (for citing)
Total	1978473	Total

Comp Current Officers Directors CompCurrentOfficersDirectors

Field	Value	IRS element (for citing)
Total	347511	Total

Other Salaries And Wages OtherSalariesAndWages

Field	Value	IRS element (for citing)
Total	3197344	Total

Pension Plan Contributions PensionPlanContributions

Field	Value	IRS element (for citing)
Total	159714	Total

Other Employee Benefits OtherEmployeeBenefits

Field	Value	IRS element (for citing)
Total	519969	Total

Payroll Taxes PayrollTaxes

Field	Value	IRS element (for citing)
Total	296557	Total

Fees For Services Management FeesForServicesManagement

Field	Value	IRS element (for citing)
Total	139347	Total

Advertising Advertising

Field	Value	IRS element (for citing)
Total	258048	Total

Office Expenses OfficeExpenses

Field	Value	IRS element (for citing)
Total	437451	Total

Information Technology InformationTechnology

Field	Value	IRS element (for citing)
Total	647705	Total

Occupancy Occupancy

Field	Value	IRS element (for citing)
Total	682713	Total

Conferences Meetings ConferencesMeetings

Field	Value	IRS element (for citing)
Total	75213	Total

Interest Interest

Field	Value	IRS element (for citing)
Total	385	Total

Depreciation Depletion DepreciationDepletion

Field	Value	IRS element (for citing)
Total	178323	Total

Insurance Insurance

Field	Value	IRS element (for citing)
Total	126341	Total

Other Expenses OtherExpenses (4 entries)

DescriptionDescription	TotalTotal
LOAN PROCESSING	914155
PROVISION FOR LOAN LOSS	855000
ATM/ACH/SHARE DRAFT/IRA	669775
MEMBER INSURANCE	533528

All Other Expenses AllOtherExpenses

Field	Value	IRS element (for citing)
Total	225000	Total

Total Functional Expenses TotalFunctionalExpenses

Field	Value	IRS element (for citing)
Total	12248552	Total

Cash Non Interest Bearing CashNonInterestBearing

Field	Value	IRS element (for citing)
BOY	12102057	BOY
EOY	13582761	EOY

Savings And Temp Cash Investments SavingsAndTempCashInvestments

Field	Value	IRS element (for citing)
BOY	19279025	BOY
EOY	16356779	EOY

Other Notes Loans Receivable Net OtherNotesLoansReceivableNet

Field	Value	IRS element (for citing)
BOY	196911822	BOY
EOY	197624820	EOY

Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges

Field	Value	IRS element (for citing)
BOY	238233	BOY
EOY	268935	EOY

Field	Value	IRS element (for citing)
Land Buildings Equipment Basis	2993615	LandBuildingsEquipmentBasis
Land Bldg Equipment Accum Deprec	211146	LandBldgEquipmentAccumDeprec

Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet

Field	Value	IRS element (for citing)
BOY	2981839	BOY
EOY	2782469	EOY

Investments Other Securities InvestmentsOtherSecurities

Field	Value	IRS element (for citing)
BOY	3898446	BOY
EOY	777420	EOY

Other Assets Total OtherAssetsTotal

Field	Value	IRS element (for citing)
BOY	3364529	BOY
EOY	3294652	EOY

Total Assets TotalAssets

Field	Value	IRS element (for citing)
BOY	238775951	BOY
EOY	234687836	EOY

Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses

Field	Value	IRS element (for citing)
BOY	1640827	BOY
EOY	809251	EOY

Escrow Account Liability EscrowAccountLiability

Field	Value	IRS element (for citing)
BOY	763315	BOY
EOY	810269	EOY

Other Liabilities OtherLiabilities

Field	Value	IRS element (for citing)
BOY	219049499	BOY
EOY	215100318	EOY

Total Liabilities TotalLiabilities

Field	Value	IRS element (for citing)
BOY	221453641	BOY
EOY	216719838	EOY

Field	Value	IRS element (for citing)
Do Not Follow SFAS117	X	DoNotFollowSFAS117

Cap Stck Trst Prin Current Funds CapStckTrstPrinCurrentFunds

Field	Value	IRS element (for citing)
BOY	0	BOY
EOY	0	EOY

Paid In Cap Srpls Land Bldg Eqp Fund PaidInCapSrplsLandBldgEqpFund

Field	Value	IRS element (for citing)
BOY	0	BOY
EOY	0	EOY

Retained Earnings Endowment Etc RetainedEarningsEndowmentEtc

Field	Value	IRS element (for citing)
BOY	17322310	BOY
EOY	17967998	EOY

Total Net Assets Fund Balances TotalNetAssetsFundBalances

Field	Value	IRS element (for citing)
BOY	17322310	BOY
EOY	17967998	EOY

Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances

Field	Value	IRS element (for citing)
BOY	238775951	BOY
EOY	234687836	EOY

Field	Value	IRS element (for citing)
Reconcilation Revenue Expenses	645688	ReconcilationRevenueExpenses
Reconcilation Other Changes	0	ReconcilationOtherChanges
Info In Schedule O Part XII	X	InfoInScheduleOPartXII
Method Of Accounting Accrual	X	MethodOfAccountingAccrual
Accountant Compile Or Review	0	AccountantCompileOrReview
FS Audited	1	FSAudited
Audit Committee	1	AuditCommittee
Financial Statement Separate	X	FinancialStatementSeparate
Federal Grant Audit Required	0	FederalGrantAuditRequired

Schedule D IRS990ScheduleD

Field	Value	IRS element (for citing)
Agent Trustee Etc	0	AgentTrusteeEtc
Included On FS	1	IncludedOnFS

Land Land

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	1035139	OtherCostOrOtherBasis
Book Value	1035139	BookValue

Buildings Buildings

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	1156103	OtherCostOrOtherBasis
Depreciation	86335	Depreciation
Book Value	1069768	BookValue

Leasehold Improvements LeaseholdImprovements

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	266328	OtherCostOrOtherBasis
Depreciation	4339	Depreciation
Book Value	261989	BookValue

Equipment Equipment

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	536045	OtherCostOrOtherBasis
Depreciation	120472	Depreciation
Book Value	415573	BookValue

Field	Value	IRS element (for citing)
Total Of Book Value Land Buildings	2782469	TotalOfBookValueLandBuildings

Other Liabilities OtherLiabilities (2 entries)

DescriptionDescription	AmountAmount
SHARES ON DEPOSIT	$213,987,325
OTHER LIABILITIES AND LOANS	$1,112,993

Field	Value	IRS element (for citing)
Total Of Amounts	215100318	TotalOfAmounts

Form990 Schedule D Part XIV Form990ScheduleDPartXIV

Field	Value	IRS element (for citing)
Return Reference	PART IV, LINE 2B:	ReturnReference
Explanation	MUTUAL SECURITY CREDIT UNION HOLDS FUNDS IN ESCROW TO PAY TAXES AND INSURANCE ON BEHALF OF ITS MORTGAGE LOAN MEMBERS.	Explanation

Schedule I IRS990ScheduleI

Field	Value	IRS element (for citing)
Records Maintained	1	RecordsMaintained

Form990 Schedule I Part III Form990ScheduleIPartIII

Field	Value	IRS element (for citing)
Type Of Grant	COLLEGE SCHOLARSHIPS	TypeOfGrant
Number Of Recipients	6	NumberOfRecipients
Amount Of Cash Grant	6000	AmountOfCashGrant

Form990 Schedule I Part IV Form990ScheduleIPartIV

Field	Value	IRS element (for citing)
Identifier	PROCEDURE FOR MONITORING GRANTS IN THE U.S.:	Identifier
Return Reference	PART I, LINE 2:	ReturnReference
Explanation	SCHEDULE I, PART I, LINE 2: EACH SCHOLARSHIP PAYMENT IS PAID BY CHECK PAYABLE TO THE RECIPIENT'S COLLEGE FOR THEIR TUITION.	Explanation

Schedule J IRS990ScheduleJ

Field	Value	IRS element (for citing)
Independent Consultant	X	IndependentConsultant
Compensation Survey	X	CompensationSurvey
Board Or Committee Approval	X	BoardOrCommitteeApproval
Severance Payment	0	SeverancePayment
Supplemental Nonqual Retire Plan	0	SupplementalNonqualRetirePlan
Equity Based Comp Arrangement	0	EquityBasedCompArrangement

Form990 Schedule J Part II Form990ScheduleJPartII

Field	Value	IRS element (for citing)
Name Person	LARRY F HOLDERMAN	NamePerson
Base Compensation Filing Org	173124	BaseCompensationFilingOrg
Comp Based On Related Orgs	0	CompBasedOnRelatedOrgs
Bonus Filing Org	0	BonusFilingOrg
Bonus Related Orgs	0	BonusRelatedOrgs
Other Compensation Filing Org	0	OtherCompensationFilingOrg
Other Compensation Related Orgs	0	OtherCompensationRelatedOrgs
Deferred Comp Filing Org	26121	DeferredCompFilingOrg
Deferred Comp Related Orgs	0	DeferredCompRelatedOrgs
Nontaxable Benefits Filing Org	18671	NontaxableBenefitsFilingOrg
Nontaxable Benefits Related Orgs	0	NontaxableBenefitsRelatedOrgs
Total Compensation Filing Org	217916	TotalCompensationFilingOrg
Total Compensation Related Orgs	0	TotalCompensationRelatedOrgs
Comp Report Prior990 Filing Org	0	CompReportPrior990FilingOrg
Comp Report Prior990 Related Orgs	0	CompReportPrior990RelatedOrgs

Schedule O IRS990ScheduleO

General Explanation GeneralExplanation (8 entries)

Return ReferenceReturnReference	ExplanationExplanation
FORM 990, PART VI, SECTION A, LINE 6	THE CREDIT UNION'S MEMBERS HAVE RIGHTS TO ELECT THE MEMBERS OF THE GOVERNING BODY. THE CREDIT UNION'S MEMBERS ALSO RECEIVE A SHARE OF THE ORGANIZATION'S PROFITS IN THE FORM OF CASH DIVIDENDS.
FORM 990, PART VI, SECTION A, LINE 7A	MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO ELECT ONE OR MORE MEMBERS OF THE ORGANIZATION'S GOVERNING BODY, WHETHER PERIODICALLY, AS VACANCIES ARISE, OR OTHERWISE.
FORM 990, PART VI, SECTION A, LINE 7B	MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY, AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR.
FORM 990, PART VI, SECTION B, LINE 11	THE CHAIRMAN, AND VICE-CHAIRMAN OR TREASURER OF THE BOARD OF DIRECTORS WILL REVIEW FORM 990 PRIOR TO ITS FILING.
FORM 990, PART VI, SECTION B, LINE 12C	EXTENSIONS OF CREDIT REQUIRES THE APPROVAL OF THE EXECUTIVE COMMITTEE, LOANS OVER $25,000 ARE REPORTED IN THE BOARD MEETING MINUTES.
FORM 990, PART VI, SECTION B, LINE 15	SALARY AND JOB DESCRIPTION DATA IS OBTAINED FROM A CONSULTANT, HR VALUE GROUP, WHOSE DATA INCLUDES SALARY RANGES FROM THE CUNA SALARY SURVEY, CUES SURVEY, AND THE ECONOMIC RESEARCH INSTITUTE. CEO SALARY IS APPROVED BY THE BOARD OF DIRECTORS.
FORM 990, PART VI, SECTION C, LINE 19	FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC. GOVERNING DOCUMENTS AND CONFLICTS OF INTEREST POLICIES ARE NOT.
FORM 990 PART XI, LINE 2C	THE PROCESS USED TO OVERSEE THE AUDIT AND SELECTION OF AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED SINCE THE PREVIOUS YEAR.

Schedule R IRS990ScheduleR

Form990 Schedule R Part IV Form990ScheduleRPartIV

Name Of Related Org NameOfRelatedOrg

Field	Value	IRS element (for citing)
Business Name Line1	GODFREY TERRACE CONDO ASSOCIATION	BusinessNameLine1

Address US AddressUS

Field	Value	IRS element (for citing)
Address Line1	C/O MSCU PO BOX 2489	AddressLine1
City	SHELTON	City
State	CT	State
ZIP Code	064841489	ZIPCode

Field	Value	IRS element (for citing)
EIN	061269292	EIN
Primary Activity	CONDO ASSOCIATION	PrimaryActivity
Legal Domicile State	CT	LegalDomicileState

Direct Controlling Entity Name DirectControllingEntityName

Field	Value	IRS element (for citing)
Business Name Line1	MUTUAL SECURITY CREDIT UNION	BusinessNameLine1

Field	Value	IRS element (for citing)
Type Of Entity	C	TypeOfEntity
Percentage Ownership	1.00000	PercentageOwnership

Field	Value	IRS element (for citing)
Receipt Of Int Ann Rents Royalties	0	ReceiptOfIntAnnRentsRoyalties
Gift Grant Or Cap Contr To Other Org	0	GiftGrantOrCapContrToOtherOrg
Gift Grant Or Cap Contr Fr Other Org	0	GiftGrantOrCapContrFrOtherOrg
Loans Or Guarantees To Other Org	0	LoansOrGuaranteesToOtherOrg
Loans Or Guarantees From Other Org	0	LoansOrGuaranteesFromOtherOrg
Sale Of Assets To Other Org	0	SaleOfAssetsToOtherOrg
Purchase Of Assets From Other Org	0	PurchaseOfAssetsFromOtherOrg
Exchange Of Assets	0	ExchangeOfAssets
Rental Of Facilities To Other Orgs	0	RentalOfFacilitiesToOtherOrgs
Rental Of Facilities Fr Other Orgs	0	RentalOfFacilitiesFrOtherOrgs
Perform Of Services For Other Orgs	0	PerformOfServicesForOtherOrgs
Perform Of Services By Other Orgs	0	PerformOfServicesByOtherOrgs
Sharing Of Facilities	0	SharingOfFacilities
Sharing Of Paid Employees	0	SharingOfPaidEmployees
Reimbursement Paid To Other Org	0	ReimbursementPaidToOtherOrg
Reimbursement Paid By Other Org	0	ReimbursementPaidByOtherOrg
Other Transfer To Other Org	0	OtherTransferToOtherOrg
Other Transfer From Other Org	0	OtherTransferFromOtherOrg